Ternus Faces Giant Shoes to Fill as Apple's New CEO
Tim Cook's tenure as Apple CEO has come to an end after 15 years. During his time, Apple's market value grew from less than $350 billion to $4.6 trillion, with shares gaining a staggering 2,275% since he took over in August 2011.
Cook inherited the company from legendary founder Steve Jobs and has been credited with building Apple into a diverse business that sells not just iPhones and Mac computers but also watches, AirPods, and financial services. The company's stock performance under Cook is impressive, with shares climbing 2,736% on a total-return basis.
Apple's new CEO, John Ternus, will face the challenge of following in Cook's footsteps at a critical event next week, where he is expected to unveil a foldable version of the iPhone. Analysts believe that Ternus should blend the innovative approach of Jobs with Cook's steady and positive reign.
Cook's legacy includes his focus on stock buybacks, which have reduced Apple's outstanding share count by nearly 45% since 2012. The company has spent over $840 billion on buybacks during this period. Under Ternus, there may be a change in the company's risk appetite, with potential investments in research and development, capital expenditures, and mergers and acquisitions.